SiTime (NASDAQ:SITM) Shares Gap Up to $130.66

SiTime Co. (NASDAQ:SITM) gapped up before the market opened on Thursday . The stock had previously closed at $130.66, but opened at $134.00. SiTime shares last traded at $129.59, with a volume of 305 shares trading hands.

A number of research firms recently commented on SITM. Zacks Investment Research lowered shares of SiTime from a “buy” rating to a “hold” rating in a research note on Thursday, July 8th. Roth Capital lowered their price objective on shares of SiTime from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, May 5th. They noted that the move was a valuation call. Needham & Company LLC decreased their price target on shares of SiTime from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, May 5th. Finally, Barclays decreased their price target on shares of SiTime from $150.00 to $125.00 in a research report on Wednesday, May 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $123.83.

The stock has a market cap of $2.41 billion, a PE ratio of -261.32 and a beta of 0.56. The business has a 50-day moving average of $110.84.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Monday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. SiTime had a negative net margin of 6.04% and a negative return on equity of 5.16%. The firm had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $33.00 million. During the same period in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. Sell-side analysts forecast that SiTime Co. will post -0.31 earnings per share for the current year.

In other SiTime news, insider Vincent P. Pangrazio sold 9,088 shares of SiTime stock in a transaction on Monday, May 24th. The shares were sold at an average price of $93.74, for a total transaction of $851,909.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $84.33, for a total transaction of $295,155.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,386 shares of company stock valued at $6,061,819 in the last three months. Company insiders own 0.80% of the company’s stock.

Several large investors have recently modified their holdings of the business. Kayak Investment Partners LLC acquired a new stake in shares of SiTime in the 1st quarter valued at $7,829,000. Squarepoint Ops LLC acquired a new stake in shares of SiTime in the 4th quarter valued at $571,000. Alpha DNA Investment Management LLC acquired a new stake in shares of SiTime in the 4th quarter valued at $515,000. Paloma Partners Management Co acquired a new stake in shares of SiTime in the 4th quarter valued at $458,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of SiTime in the 1st quarter valued at $389,000. 62.03% of the stock is owned by institutional investors.

About SiTime (NASDAQ:SITM)

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

Further Reading: What is the definition of a trade war?

Receive News & Ratings for SiTime Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiTime and related companies with MarketBeat.com's FREE daily email newsletter.